United Bankshares (NASDAQ:UBSI) Sees Strong Trading Volume – Here’s What Happened

United Bankshares, Inc. (NASDAQ:UBSI) shares saw unusually-high trading volume on Wednesday . Approximately 1,392,976 shares changed hands during mid-day trading, an increase of 120% from the previous session’s volume of 631,983 shares.The stock last traded at $35.14 and had previously closed at $35.39.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on UBSI shares. Keefe, Bruyette & Woods decreased their target price on United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Monday, January 27th. Stephens restated an “equal weight” rating and set a $43.00 price objective on shares of United Bankshares in a report on Monday, January 27th. Finally, StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th.

United Bankshares Trading Down 1.0 %

The firm has a market cap of $4.74 billion, a P/E ratio of 12.78 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a fifty day simple moving average of $37.79 and a 200 day simple moving average of $38.38.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same period in the prior year, the company posted $0.59 EPS. On average, research analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Friday, March 14th. United Bankshares’s payout ratio is currently 54.01%.

Insider Activity at United Bankshares

In other news, Director Mark R. Nesselroad sold 6,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $39.16, for a total transaction of $234,960.00. Following the transaction, the director now directly owns 35,424 shares of the company’s stock, valued at $1,387,203.84. This represents a 14.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On United Bankshares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Investment Management Corp VA ADV acquired a new position in shares of United Bankshares in the 4th quarter valued at $96,000. GTS Securities LLC purchased a new position in shares of United Bankshares during the 4th quarter valued at approximately $317,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of United Bankshares by 52.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 381,062 shares of the financial services provider’s stock valued at $14,309,000 after purchasing an additional 130,444 shares in the last quarter. Systematic Financial Management LP grew its position in shares of United Bankshares by 2.2% in the 4th quarter. Systematic Financial Management LP now owns 399,732 shares of the financial services provider’s stock worth $15,010,000 after acquiring an additional 8,704 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in United Bankshares during the fourth quarter valued at $93,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

About United Bankshares

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.